Help!

Benjiboy17

I have just gone in to semi retirement at 66. I have a fair some of money in my Barclays curent acount and a little in Barclays savings account. But the interest return is next to nothing. Can anyone suggest how \i can get a bigger return for my savings

eskbanker

Benjiboy17 said:

I have just gone in to semi retirement at 66. I have a fair some of money in my Barclays curent acount and a little in Barclays savings account. But the interest return is next to nothing. Can anyone suggest how \i can get a bigger return for my savings

Put them in an account paying better interest!

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

wmb194

Benjiboy17 said:

I have just gone in to semi retirement at 66. I have a fair some of money in my Barclays curent acount and a little in Barclays savings account. But the interest return is next to nothing. Can anyone suggest how \i can get a bigger return for my savings

Savings accounts? Stock market investments?

https://moneyfactscompare.co.uk/savings-accounts/

Bigwheels1111

A few facts would be needed.

Income, pension,wages,benefits or interest.

A rough ammount of savings.

ISA'S or not.

No income at all would allow £18,570 of tax free interest in basic terms.

Then do you get your pension next year and how much is it.

Because that would eat into your tax free sum, so A 20k isa this year and another on the 6th of April would help with tax on interest.

How long do you want to fix the rate ?

Or are you after stocks and shares. From reading on here stocks and shares are a 10 year plus investment.

Mortgage or not.

Emergency fund in place etc.

For me it was 5 & 7 year fixed rate bonds with anuall payout.

To provide an income each year.

I'm a carer for my friend.

So 4k carers allowance was my only income.

£18,570 - 4k = £14,570 for tax free interest.

A bit basic, but need more info from you.